Join our daily newsletter At The Bell to receive exclusive market insights
AFT Pharmaceuticals Ltd (ASX:AFP) has reached another milestone in its delivery of pain killer Maxigesic Rapid to the American market, announcing a distribution agreement with pharmaceutical wholesaler Alexso which will aid in launching the drug.
According to the agreement, Alexso will distribute Maxigesic Rapid tablets (also known as Combogesic) within the US market – the world’s largest for pharmaceuticals – with this news coming only months after AFT gained approval for the drug’s release.
Maxigesic Rapid tablets use a combination of paracetamol and ibuprofen to treat mild to medium pain, and were approved for release on the US market by the country’s Food and Drug Administration (FDA) in March.
AFT Pharmaceuticals Managing Director Dr Hartley Atkinson said the agreement with Alexso represented an important step for the company.
“We are delighted to announce our partnership with Alexso, an established pharmaceutical distribution company which prioritizes non-opioid pain management solutions,” he said.
“We are pleased to be launching our second patented pharmaceutical into the United States market, which we anticipate will occur during this financial year.”
AFT will also continue negotiations with other distributors to target for additional, specific market channels in the United States.
AFT has been trading at $2.80 cents.
-1200x645-380x200.jpg)